Investment objective & strategy
As of Oct. 27, 2025 · prospectusObjective. Fidelity Enhanced Mid Cap ETF seeks capital appreciation.
Strategy. Normally investing at least 80% of assets in common stocks included in the Russell Midcap Index. The Russell Midcap Index is a market capitalization-weighted index designed to measure the performance of the mid-cap segment of the U.S. equity market. Effective December 11, 2025, derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives. Generally utilizing a research-driven approach identifying long-term drivers of stock returns that may include, but are not limited to, valuation, growth, quality, and other factors. The research is systematically applied alongside a proprietary … Normally investing at least 80% of assets in common stocks included in the Russell Midcap Index. The Russell Midcap Index is a market capitalization-weighted index designed to measure the performance of the mid-cap segment of the U.S. equity market. Effective December 11, 2025, derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives. Generally utilizing a research-driven approach identifying long-term drivers of stock returns that may include, but are not limited to, valuation, growth, quality, and other factors. The research is systematically applied alongside a proprietary portfolio construction and risk management framework to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the Russell Midcap Index.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Fidelity Securities Lending Cash Central Fund | — | $77.98M | 1.33% |
| HOWMET AEROSPACE INC | — | $71.38M | 1.21% |
| WESTERN DIGITAL CORP | — | $69.98M | 1.19% |
| BANK OF NEW YORK MELLON CORP | — | $69.22M | 1.18% |
| MARATHON PETROLEUM CORP | — | $66.20M | 1.13% |
| KINDER MORGAN INC | — | $61.71M | 1.05% |
| CORTEVA INC | — | $59.33M | 1.01% |
| CHENIERE ENERGY INC | — | $58.98M | 1.00% |
| SIMON PROPERTY | — | $58.10M | 0.99% |
| ELECTRONIC ARTS INC | — | $54.55M | 0.93% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Fidelity Mid Cap Index Fund · FSMDX | 40% | 0.03% |
| Venerable Mid Cap Index Fund | 40% | 0.40% |
| PD Mid-Cap Index Portfolio | 39% | 0.19% |
Advisers
| Firm | Role |
|---|---|
| Fidelity Management & Research Company LLC | Adviser |
Footnotes
- Expense ratio as of October 27, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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